{"id":4383,"date":"2007-03-05T07:08:04","date_gmt":"2007-03-05T07:08:04","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/03\/putnam_retail_management_scudd"},"modified":"2022-07-22T08:42:02","modified_gmt":"2022-07-22T13:42:02","slug":"putnam-retail-management-scudd","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/putnam-retail-management-scudd\/","title":{"rendered":"Putnam Retail Management, Scudder Distributors, and AllianceBernstein Investments Say They Will Pay $700,000 Settlement Over NASD Allegations That They Violated Non-Cash Compensation Rules"},"content":{"rendered":"

While neither admitting or denying the charges by NASD, AllianceBernstein Investments Inc. of New York, Scudder Distributors Inc. of Chicago, and Putnam Retail Management Limited Partnership of Boston says they will collectively pay $700,000 to settle allegations that they violated the NASD’s non-cash compensation rules. Charges included the accusations that they improperly provided entertainment at education and training meetings and paid for guest expenses at these events.<\/p>\n

Scudder, the distributor of Scudder investment products, said it would pay $425,000 in fines. AllianceBernstein, the distributor of AllianceBernstein LP’s investment products, agreed to pay $100,000, and Putnam, which distributes its own products, said it would pay $175,000.<\/p>\n

NASD limits compensations so that point-of-sale incentives won’t affect a broker’s objectivity to find the appropriate investment product for each investor. Non-cash compensations are also limited by NASD, including reimbursements for meals, lodging, and travel expenses related to education and training meetings.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

While neither admitting or denying the charges by NASD, AllianceBernstein Investments Inc. of New York, Scudder Distributors Inc. of Chicago, and Putnam Retail Management Limited Partnership of Boston says they will collectively pay $700,000 to settle allegations that they violated the NASD’s non-cash compensation rules. Charges included the accusations that they improperly provided entertainment at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3788],"tags":[],"class_list":["post-4383","post","type-post","status-publish","format-standard","hentry","category-nasd-enforcement"],"yoast_head":"\nPutnam Retail Management, Scudder Distributors, and AllianceBernstein Investments Say They Will Pay $700,000 Settlement Over NASD Allegations That They Violated Non-Cash Compensation Rules — Investor Lawyers Blog — March 5, 2007<\/title>\n<meta name=\"description\" content=\"While neither admitting or denying the charges by NASD, AllianceBernstein Investments Inc. of New York, Scudder Distributors Inc. of Chicago, and Putnam — March 5, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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